CBO Estimates Immigration Bill Would Shrink Deficit

freshh. · 06-18-2013, 06:49 PM

Quote:

WASHINGTON -- The bipartisan immigration reform bill currently under consideration in the Senate would shrink the deficit by $197 billion over the next decade and $700 billion during the 10 years that followed, the non-partisan Congressional Budget Office estimated in a report released Tuesday.

The "gang of eight" bill, which lawmakers passed into the debate phase last week, would allow undocumented immigrants a path to citizenship, triggered by improvements to border security. It would also rework the legal immigration system and require more policing of unauthorized immigration within the United States.

The CBO report estimated that the bill, if passed, would lead to a net increase of 10.4 million people living in the United States by 2023. The economic impact is estimated to be largely positive. CBO and the Joint Committee on Taxation estimated that the bill would decrease deficits by $197 billion and cost $22 billion to implement over the 2014-2023 period.

According to the report, over the next decade the bill would lead to a $262 billion increase in federal direct spending, including on Medicare and Obamacare. But it would also increase federal revenues by $459 billion, CBO estimated.

"This report is a huge momentum boost for immigration reform," gang of eight Sen. Chuck Schumer (D-N.Y.) said in a statement. "This debunks the idea that immigration reform is anything other than a boon to our economy, and robs the bill’s opponents of one of their last remaining arguments. Immigration reform is not only the right thing to do to stay true to our nation’s principles, it will also boost our economy, reduce the deficit and create jobs."

White House Press Secretary Jay Carney called the nonpartisan report "more proof that bipartisan commonsense immigration reform will be good for economic growth and deficit reduction."

The report looked beyond the 10-year period the CBO typically considers in estimating the cost of bills, which immigration reform opponents, like Sen. Jeff Sessions (R-Ala.), encouraged. The Heritage Foundation, a conservative think tank that came under fire for a misleading study that put the cost of the bill at $6.3 trillion over the next 50 years, wrote in a blog post last week that it would be misleading if the CBO only looked at 10 years. The bill's impact changes significantly after the 10-year mark, when some undocumented immigrants would become legal permanent residents and eventually citizens, and when increased security measures likely would already be in place.

The CBO eventually opted to look at a 20-year period. By 2033, the CBO estimated a net population increase of 16 million. With spending and revenues combined, the bill would lead to a $700 billion decrease of the deficit between 2024 and 2033, according to the report.

Sen. Marco Rubio (R-Fla.), another member of the gang of eight, said the CBO score shows his arguments about the economic merits of reform were valid.

"The CBO has further confirmed what most conservative economists have found: Reforming our immigration system is a net benefit for our economy, American workers and taxpayers," he said. "There remain some key areas that need to be tightened up to prevent those who have violated our immigration laws from accessing federal benefit programs. But overall, the CBO report offers encouraging evidence that the status quo is unacceptable and we can end it without burdening our already burdened taxpayers and, in fact, reduce the deficit over the next 20 years."

Source

Pianoswithoutfaith · 06-18-2013, 07:26 PM

the comments are wow

Malign0n · 06-18-2013, 09:13 PM

Saw another article on this. Over $1 Trillion over the next two decades. Another PLUS to CIR

http://www.nytimes.com/2013/06/19/us...anted=all&_r=0

Task_1539 · 06-18-2013, 09:37 PM

Just ignore comments. Fuck this keep your "keep your enemy closer" bull. Think of the most racist, bigoted argument possible and direct it towards immigrants. This will be the gist of your reading experience...every. Damn. Time.

Tonyhasadream · 06-18-2013, 10:00 PM

If wasn't long before this asshole said something, I'd love to tell sessions to stfu in person.

http://www.budget.senate.gov/republi...0-5fcfb92b631c

Ianus · 06-19-2013, 09:45 AM

Quote:

Originally Posted by Tonyhasadream

If wasn't long before this asshole said something, I'd love to tell sessions to stfu in person.

http://www.budget.senate.gov/republi...0-5fcfb92b631c

I think this article highlights the real issue Sessions may have with Immigration,including a sizable amount of Republicans.

Quote:

Ultimately, the CBO report rips a layer of artifice from the immigration debate. Few critics of immigration reform really base their opposition on concerns about the deficit or the economy. Their real concern with immigration is cultural and sociological. But that’s dangerous political ground. It’s easier to frame opposition using the bloodless language of the budget than the combustible language of national character and composition.

That’s the real damage the CBO did to the anti-immigration caucus. It took the bloodless language of the budget away from them. It left them only with their real concerns — the ones they’d prefer not to emphasize. That will perhaps lead to a slightly more truthful debate about immigration reform, but one that is much more dangerous for the anti-reform side, and for the Republican Party.

bertdude7 · 06-19-2013, 03:46 PM

The main reason the GOP are ripping this new study is because it debunks their precious heritage foundation budget estimates, in their study it says it would cost the tax payers an estimated 6.2 trillion over the next 10 years. I honestly think that's a bs number. I trust the CBO simply because its non-partisan and they keep facts where they should be and politics out of their studies.

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CBO Estimates Immigration Bill Would Shrink Deficit